Kite Realty Group Trust · NYSE:KRG
Kite Realty Group Trust — Investor Presentation (August 2012)
21 slides from Kite Realty Group Trust's investor presentation, Aug 10, 2012
Slide 1: Kite Realty Group Headquarters Indianapolis, IN
KITE HEADQUARTERS Indianapolis, IN
Slide 2: Disclaimer
KITE REALTY GROUP * DISCLAIMER This presentation contains certain statements that are not historical fact and may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncerta
Slide 3: Company Overview: Stable Operating Portfolio
* COMPANY OVERVIEW Stable Operating Portfolio Owned interests in 62 operating properties totaling approximately 9.3 million square feet of gross leasable area (GLA). Diverse tenant base: Largest tenant (Publix Supermarket) represents only 3.3% of annualized base rent 5 mile demographics: Population
Slide 4: Company Overview: Acquisition and Disposition Activity
* COMPANY OVERVIEW Acquisition and Disposition Activity Cove Center: Acquired the Publix-anchored unencumbered shopping center in Stuart, Florida in June 2012 for $22 million. 12th Street Plaza: Acquired the Publix-anchored shopping center in Vero Beach, Florida in August 2012 for $15 million. South
Slide 5: Operating Metrics
Ph KITE REALTY GROUP OPERATING METRICS TP 888.577.5600 @p kiterealty.com
Slide 6: Leased Percentages: Retail Operating Portfolio
* LEASED PERCENTAGES: RETAIL OPERATING PORTFOLIO KITE REALTY GROUP
Slide 7: Cash Rent Spreads
CASH RENT SPREADS KITE REALTY GROUP * Q2 2012 Q1 2012 FY 2011 FY 2010 New Leases 22.7% 13.5% 8.6% 9.8% Renewals 4.9% 0.4% 2.9% <3.5%> Weighted Total 14.6% 7.2% 6.4% 5.1% Eleven consecutive quarters of positive aggregate cash rent spreads
Slide 8: Quality Retail Tenant Base
QUALITY RETAIL TENANT BASE KITE REALTY GROUP * Annualized base rent represents the monthly contractual rent for June 2012 for each applicable tenant multiplied by 12. Excludes tenant reimbursements. S&P credit ratings for parent company as of 7/20/2012. Information as of June 30, 2012 Percent of Por
Slide 9: Development/Redevelopment/Acquisitions
DEVELOPMENT/REDEVELOPMENT/ACQUISITIONS
Slide 10: Delray Marketplace Development Update
KITE REALTY GROUP * DELRAY MARKETPLACE Delray Beach, Florida Development Update Including anchors Publix and Frank Theatres, we currently have 28 executed leases. The center is approximately 76% pre-leased or committed. Vertical construction is underway and tenant deliveries began in July. The $94 m
Slide 11: Holly Springs Towne Center Development Update
KITE REALTY GROUP * HOLLY SPRINGS TOWNE CENTER Holly Springs, North Carolina Development Update (cont.) The 126,000 square foot Target building pad was delivered in June 2012. Building pads are in place. Vertical construction on 205,000 SF of buildings commenced on July 30, 2012. The $57 million dev
Slide 12: Four Corner Square Redevelopment Update
KITE REALTY GROUP * FOUR CORNER SQUARE Maple Valley, Washington Redevelopment Update Commenced construction in Q1, 2012. Three anchor leases for 80,000 total square feet are fully executed with Grocery Outlet, Johnson’s Home & Garden, and Walgreens. The center is approximately 84% leased or committe
Slide 13: Rangeline Crossing Redevelopment Update
KITE REALTY GROUP * RANGELINE CROSSING Carmel, Indiana Redevelopment Update Transitioned to in-process redevelopment in Q2, 2012. Organic grocer Earth Fare will anchor the center. Leasing momentum is strong with multiple tenant negotiations under way. The project is 87.5% leased or committed. The in
Slide 14: Recently Acquired Real Estate
KITE REALTY GROUP * RECENTLY ACQUIRED REAL ESTATE Cove Center – Stuart, Florida Acquired in June for $22 million and was 96.3% leased as of June 30, 2012. Anchored by Publix Supermarket and Beall’s Department Store. Potential for redevelopment 12th Street Plaza – Vero Beach, Florida Acquired in Augu
Slide 15: High Quality Recently Completed Real Estate
KITE REALTY GROUP * HIGH QUALITY RECENTLY COMPLETED REAL ESTATE Rivers Edge Successfully redeveloped and was 100% leased as of June 30, 2012. Anchored by Nordstrom Rack, The Container Store, buybuy Baby, Arhaus Furniture, and BGI Fitness. Eddy Street Commons (University of Notre Dame) Successfully d
Slide 16: High Quality Recently Completed Real Estate
KITE REALTY GROUP * HIGH QUALITY RECENTLY COMPLETED REAL ESTATE Cobblestone Plaza Successfully developed and was 94.0% leased as of June 30, 2012. Anchored by Whole Foods. Oleander Place Whole Foods opened at the end of May 2012. Successfully redeveloped and was 90% leased or committed as of June 30
Slide 17: Debt & Capital Markets
Ph KITE REALTY GROUP DEBT & CAPITAL MARKETS TP 888.577.5600 @p kiterealty.com
Slide 18: Balance Sheet Progress
KITE REALTY GROUP * BALANCE SHEET PROGRESS Weighted-average debt maturities extended to 5.3 years as of June 30, 2012 from 4.2 years as of March 31, 2012. Only 18% of debt maturities over the next 3.5 years. Unencumbered asset pool increased to over 40% of total assets and continues to expand. Conso
Slide 19: Debt and Capital Markets Update
KITE REALTY GROUP * DEBT AND CAPITAL MARKETS UPDATE Primary Balance Sheet Initiatives Manage floating rate debt to a target of 20% of total debt. De-levering in process through NOI growth, non-core asset sales, and select acquisitions. Significant 2012 Debt Transactions Closed on $125 million unsecu
Slide 20: Schedule of Debt Maturities
KITE REALTY GROUP * SCHEDULE OF DEBT MATURITIES Substantially completed goal of extending and staggering our near-term debt maturities Information as of June 30, 2012 (1) Chart excludes annual principal payments and net premiums on fixed rate debt. Assumes the Company exercises the one year extensio
Slide 21: Sources of Cash NOI Growth
KITE REALTY GROUP * SOURCES OF CASH NOI GROWTH Stabilization of recently completed developments and redevelopments at Cobblestone Plaza, Rivers Edge, and Oleander Place. Completion of Delray Marketplace, Holly Springs Towne Center – Phase I, Four Corner Square, and Rangeline Crossing (which have rec
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